Benzinga | Feb 2, 2021 05:55AM EST

Tiziana Life Sciences' Shares Rally As Foralumab Shows Encouraging Action In COVID-19 Study In Brazil

* Tiziana Life Sciences Plc (NASDAQ: TLSA) surges on the heels of positive data reported from an exploratory study in Brazil, evaluating nasally administered Foralumab, either alone or in combination with orally administered dexamethasone (Dexa) in COVID-19 patients.

* The study showed that direct nasal delivery of Foralumab rapidly suppresses lung inflammation and improves senses of smell and taste in treated patients.

* Foralumab treated patients showed reduced systemic biomarkers of inflammation, such as the levels of Interleukins-6 and c-reactive protein, compared to patients in the control cohort.

* Tiziana says that the treatment may potentially be useful in other emerging variants of COVID-19, and nasal administration of foralumab can be possible in-home settings as well.

* Price Action: TLSA shares gained 43.7% at $5.49 in the pre-market session on the last check Tuesday.